KSA And Levant Retail Edible Oil Market - Forecast(2021 - 2026)
The KSA and Levant retail edible oil market are estimated to grow at a CAGR of 4.12% during the forecast period 2019–2025. KSA and Levant Retail Edible Oil Market growth can be attributed to the rising health awareness among the consumers. Wellness concern among the consumers has driven the market for edible oils like olive oil, sunflower oil, and canola oil. Also, there has been an increase in consumption of edible-oil based packaged goods, which in turn drives the refined edible oil market. The KSA and Levant retail edible oil market size were $948 million in 2018.
Report Coverage
The report: “KSA and Levant Retail Edible Oil Market – Forecast (2019-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the Edible Oil Market:
I. By Type
· Corn Oil
· Palm Oil
· Sunflower Oil
· Canola Oil
· Olive Oil
· Coconut Oil
· Others
II. By Channel
· Supermarket and Hypermarket
· Convenience stores
· Online retail stores
· Specialty stores
· Others
III. By Geography
· Saudi Arabia
· Egypt
· Israel
· Turkey
· Iraq
· Jordan
· Lebanon
· Rest of Levant
Key Takeaways
· In the coming years, growing awareness about health and food ingredients to be used will influence the market.
· Many problems like import and supply risk can be reduced by increasing domestic production.
· It is evaluated that Saudi Arabia is showing the highest potential to become an evolving edible oil market and record the fastest CAGR over the forecast period.
Product - Segment Analysis
Vegetable oils are more in consumption than other edible oils. Sunflower Oil dominated the product market in terms of revenue. Its popularity can be attributed to the fact that its health benefits and taste. Government-run campaigns are rising consumer health awareness. This contributes to the rising consumption of healthy oil types as food habits of consumers are changing. This is contributing to the rise in consumption of healthy oils like olive oil and sunflower oil. Consumers also prefer processed food made from such oils. Palm oil is also being imported largely because of its price sensitivity to the low-income population.
Distribution channel - Segment Analysis
The KSA and Levant retail edible oil market are segmented into Supermarket and Hypermarket, Convenience stores, online retail stores, Specialty stores, and others. Supermarkets and Hypermarkets are the major channels for edible oil sales with a CAGR of 41.16%. This is because consumers can easily find and purchase any oil of their choice in supermarkets. Also, they can select the preferred size, brand, and packaging from these stores. Packaged and branded edible oil is being bought more commonly as they are convenient for consumer purchase.
Geography - Segment Analysis
Major regions under study in this report are Saudi Arabia, Egypt, Israel, Turkey, Iraq, Jordan, Lebanon, and the rest of Levant. Saudi Arabia is the fastest growing market with highest market share owing to the increased health consciousness and rising population. Technological advancement, especially in packaging, is also prominent in Saudi Arabia. The population in this country is majorly urban and composed of younger and educated individuals. They have a high disposable income and are also more health-conscious. Hence preference of cholesterol-free and low-fat oil types is high in Saudi Arabia. There is also a prevalence of aged population in Saudi Arabia, which is largely consuming healthy edible oils.
Drivers – KSA and Levant Retail Edible Oil Market
· Rising health awareness
Urbanization and change in lifestyle of people have to lead to the rise in various diseases. Consumers who are educated and more conscious about their health and wellness are trying to change their food habits. Hence they have started to prefer healthier edible oil options like olive oil, soyabean oil, and sunflower oil. Thus the demand for such types of edible oil is rising that are having low-fat, low-cholesterol and low-calories. Even governments are spreading awareness, encouraging consumers to avoid edible oils with high trans fats that are the cause of many health concerns. There is also rising consumption of “low-impacting processing” oils, in which nutrients are immune to heat, such as virgin olive oil, raw coconut oil, and cold-pressed walnut oil.
· Rising consumption of packaged foods
Edible oil industry influences the food industry as well because they are used in the preparation of various food items. The changing lifestyle of the people and increasing disposable income of the public tends to change the eating habits of the people here. It has been observed that the consumption of edible oil-based packaged food is rising, which in turn created demand for the refined edible oil market in this region. Food manufacturers prefer such oils as they have a lesser price and are healthier. Consumption of food made in olive oil is increasing as it contains good cholesterols. Government has also mandated the use of cooking oil with less trans fat content to make food items.
· Rising Tourism
A rise in the entry of tourists has also contributed to increasing purchase of edible oil by hotels and other hospitality sectors. This is because they need to cater to the different tastes and culinary requirement of the tourists. Different food types have different oil requirements. Also, with the demand for different oil, there is a demand for healthy cooking oil types to be used. The rising tourism has also contributed to an increase in the number of jobs and with it an increase in purchasing power of the domestic population. This will again influence the growth of the food industry, which will also lead to the growth of the edible oil market.
Challenges – KSA and Levant Retail Edible Oil Market
· Price and supply risk
These countries are not having local edible oil production and are majorly dependent on imports. This is due to the lack of agricultural land and suitable climate. Hence they are majorly dependent on imports. Foreign workers and western influence also influence the feeding habits of domestic residents. Thus there are rising imports of edible oil with this changing lifestyle. Currently, the imports are high as domestic production is very low. However, major risks faced when importing are supply and price risks. Supply risk is high due to import disruption, which includes issues like supplier failure, shortages, delivery time, and others. Also, price risk will be faced due to constant change in import prices in such a highly volatile market.
Market Landscape
Product innovations by research and development are the key strategies of the players in the KSA and Levant retail edible oil market. The key players are Sundrop, Wilmar International, Cargill Inc., Mazola Oils, Unilever, Bunge Ltd., Marico, CONFO Group, Nisshin Olillio, Adani Group, and others. The consumers in the Middle East are particular about the pricing of the products. Companies are focusing on packaging as well as in-store promotions to achieve new customers are enhance sales. These companies are also trying to bring out healthier versions of edible oils and gaining consumer base by lower prices.
KSA and Levant Retail Edible Oil Market Research Scope:
The base year of the study is 2019, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the KSA and Levant Retail Edible Oil market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of products and their distribution channels.
For more Food and Beverages related reports, please click here
Report Coverage
The report: “KSA and Levant Retail Edible Oil Market – Forecast (2019-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the Edible Oil Market:
I. By Type
· Corn Oil
· Palm Oil
· Sunflower Oil
· Canola Oil
· Olive Oil
· Coconut Oil
· Others
II. By Channel
· Supermarket and Hypermarket
· Convenience stores
· Online retail stores
· Specialty stores
· Others
III. By Geography
· Saudi Arabia
· Egypt
· Israel
· Turkey
· Iraq
· Jordan
· Lebanon
· Rest of Levant
Key Takeaways
· In the coming years, growing awareness about health and food ingredients to be used will influence the market.
· Many problems like import and supply risk can be reduced by increasing domestic production.
· It is evaluated that Saudi Arabia is showing the highest potential to become an evolving edible oil market and record the fastest CAGR over the forecast period.
Product - Segment Analysis
Vegetable oils are more in consumption than other edible oils. Sunflower Oil dominated the product market in terms of revenue. Its popularity can be attributed to the fact that its health benefits and taste. Government-run campaigns are rising consumer health awareness. This contributes to the rising consumption of healthy oil types as food habits of consumers are changing. This is contributing to the rise in consumption of healthy oils like olive oil and sunflower oil. Consumers also prefer processed food made from such oils. Palm oil is also being imported largely because of its price sensitivity to the low-income population.
Distribution channel - Segment Analysis
The KSA and Levant retail edible oil market are segmented into Supermarket and Hypermarket, Convenience stores, online retail stores, Specialty stores, and others. Supermarkets and Hypermarkets are the major channels for edible oil sales with a CAGR of 41.16%. This is because consumers can easily find and purchase any oil of their choice in supermarkets. Also, they can select the preferred size, brand, and packaging from these stores. Packaged and branded edible oil is being bought more commonly as they are convenient for consumer purchase.
Geography - Segment Analysis
Major regions under study in this report are Saudi Arabia, Egypt, Israel, Turkey, Iraq, Jordan, Lebanon, and the rest of Levant. Saudi Arabia is the fastest growing market with highest market share owing to the increased health consciousness and rising population. Technological advancement, especially in packaging, is also prominent in Saudi Arabia. The population in this country is majorly urban and composed of younger and educated individuals. They have a high disposable income and are also more health-conscious. Hence preference of cholesterol-free and low-fat oil types is high in Saudi Arabia. There is also a prevalence of aged population in Saudi Arabia, which is largely consuming healthy edible oils.
Drivers – KSA and Levant Retail Edible Oil Market
· Rising health awareness
Urbanization and change in lifestyle of people have to lead to the rise in various diseases. Consumers who are educated and more conscious about their health and wellness are trying to change their food habits. Hence they have started to prefer healthier edible oil options like olive oil, soyabean oil, and sunflower oil. Thus the demand for such types of edible oil is rising that are having low-fat, low-cholesterol and low-calories. Even governments are spreading awareness, encouraging consumers to avoid edible oils with high trans fats that are the cause of many health concerns. There is also rising consumption of “low-impacting processing” oils, in which nutrients are immune to heat, such as virgin olive oil, raw coconut oil, and cold-pressed walnut oil.
· Rising consumption of packaged foods
Edible oil industry influences the food industry as well because they are used in the preparation of various food items. The changing lifestyle of the people and increasing disposable income of the public tends to change the eating habits of the people here. It has been observed that the consumption of edible oil-based packaged food is rising, which in turn created demand for the refined edible oil market in this region. Food manufacturers prefer such oils as they have a lesser price and are healthier. Consumption of food made in olive oil is increasing as it contains good cholesterols. Government has also mandated the use of cooking oil with less trans fat content to make food items.
· Rising Tourism
A rise in the entry of tourists has also contributed to increasing purchase of edible oil by hotels and other hospitality sectors. This is because they need to cater to the different tastes and culinary requirement of the tourists. Different food types have different oil requirements. Also, with the demand for different oil, there is a demand for healthy cooking oil types to be used. The rising tourism has also contributed to an increase in the number of jobs and with it an increase in purchasing power of the domestic population. This will again influence the growth of the food industry, which will also lead to the growth of the edible oil market.
Challenges – KSA and Levant Retail Edible Oil Market
· Price and supply risk
These countries are not having local edible oil production and are majorly dependent on imports. This is due to the lack of agricultural land and suitable climate. Hence they are majorly dependent on imports. Foreign workers and western influence also influence the feeding habits of domestic residents. Thus there are rising imports of edible oil with this changing lifestyle. Currently, the imports are high as domestic production is very low. However, major risks faced when importing are supply and price risks. Supply risk is high due to import disruption, which includes issues like supplier failure, shortages, delivery time, and others. Also, price risk will be faced due to constant change in import prices in such a highly volatile market.
Market Landscape
Product innovations by research and development are the key strategies of the players in the KSA and Levant retail edible oil market. The key players are Sundrop, Wilmar International, Cargill Inc., Mazola Oils, Unilever, Bunge Ltd., Marico, CONFO Group, Nisshin Olillio, Adani Group, and others. The consumers in the Middle East are particular about the pricing of the products. Companies are focusing on packaging as well as in-store promotions to achieve new customers are enhance sales. These companies are also trying to bring out healthier versions of edible oils and gaining consumer base by lower prices.
KSA and Levant Retail Edible Oil Market Research Scope:
The base year of the study is 2019, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the KSA and Levant Retail Edible Oil market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of products and their distribution channels.
For more Food and Beverages related reports, please click here
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